OMV Petrom S A : commissioned the largest crude oil storage tank in Romania, at Petrobrazi refinery

OMV Petrom commissioned the largest crude oil storage tank in Romania, at Petrobrazi refinery

• The construction of the new oil tank is part of the refinery's modernization program
• The tank has an insulation system that reduces vapour emissions by 98%
• The insulation system includes the largest aluminium dome in Romania
• The total investment was more than EUR 23 million

OMV Petrom, the largest integrated energy producer in Southeastern Europe, commissioned a new crude oil tank, the largest in Romania, on the Petrobrazi refinery platform. The tank has been designed and built according to the latest standards in the field, for increased safety in use. It features double walls and a double base, an aluminium dome cover, and an inner floating lid to retain vapour emissions. The construction of the project took approximately two years, with investments exceeding EUR 23 million.

Radu Caprau, member of OMV Petrom's Executive Board, responsible for Refining and Marketing: "The construction of the new oil tank represents another important project successfully completed on the Petrobrazi platform, along with the installation of new coke drums and other modernization projects. All these investments strengthen our ability to ensure the smooth operation of the refinery in safe conditions and to ensure the fuel stocks necessary to supply the market in Romania and the region. The project has an important environmental component by reducing vapour emissions to near zero."

The tank, taller than a 10-story building, has a total capacity of 60,000 cubic meters and can store raw material for the equivalent of 1.2 million fuel fills.

The aluminum dome, the largest structure of this type in Romania, is an impressive construction, weighing 53 tons, with a height of 15 meters and a diameter of 72 meters. The lifting of the dome into position was done using, for the first time in Romania, a pneumatic system consisting of 28 lifting devices, centrally operated.

You can watch here how the new storage tank was built.

Since 2005, OMV Petrom has invested more than EUR 2 billion in the Petrobrazi refinery. One third of this investment has contributed to reducing the environmental impact.

About OMV Petrom

OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 41 million boe in 2023. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands - OMV and Petrom.

OMV Petrom is a company in which, as of end-2023, Romanian shareholders hold over 43% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 22.5% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 5.6% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.

OMV Petrom is one of the largest contributors to the state budget, with approximately 42 billion euro in taxes and dividends paid between 2005 and 2023. During the same period, the company invested approximately 18 billion euro.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2023, the company has allocated around 160 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.